Home for Sale at 117 Iris Drive, Mead, OK 73449

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117 Iris Drive
Mead, OK 73449

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Property Details

List Price:	$435,000
Beds:	3
Baths:	2
Status:	Active
SqFt:	2420
Agency:	Coldwell Banker VanMeter Rader Group

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Description/Comments

Lot Size:	1 acre(s)
Property Type:	Residential
Year Built:	1990
Notes:	PRICE REDUCED/ CLOSE TO LAKE<br /> Welcome to 117 Iris Drive, Mead, OK! This stunning home offers a multitude of special features that are sure to impress. With 3 bedrooms, 2 baths, and a 2-car garage complete with a convenient work/tool room, this property is designed for both comfort and functionality.<br /> <br /> The interior of the house includes a cozy wood-burning stove with a catalytic converter and firewall, ample storage space, multiple walk-in closets, a laundry room & mudroom. The kitchen is adorned with elegant Corian countertops, and the dining area features bridge timber shelving, adding a touch of rustic charm.<br /> <br /> One of the highlights of this home is the impressive 35-foot-long porch, equipped with roll-down blinds for privacy and shade. Features high-quality Anderson doors, providing both security and aesthetic appeal. The roof is built with a durable bladder roof system, and the triple-pane windows come with a lifetime warranty and elegant marble window sills. 10x12 storm cellar under the porch. Also includes a 500 gallon propane tank.<br /> <br /> The property includes a 30' X 40' insulated shop building. Features two overhead doors, a walkthrough door, and is equipped with electricity and water. The shop also includes a sink.<br /> <br /> Don't miss the opportunity to own this remarkable home with its array of special features. Schedule a showing today and experience the beauty and functionality of 117 Iris Drive!
MlsNumber:	2412729

Listing Provided By:	Coldwell Banker VanMeter Rader Group, original listing
Name:	Coldwell Banker VanMeter Rader Group
Phone:	(580) 920-6914
Office Name:	VanMeter Realty
Office Phone:	(580) 924-8404
Agent Name:	Elaine Reese
Disclaimer:	Copyright Â© 2024 MLS Technology, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

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HUD Foreclosures

HUD foreclosures and VA Foreclosures are some of the best homes to buy when price is part of the equation. As with most Americans, price is always a concern. If not buying the same house for less, why not buy more house for the same dollar invested? When looking for a good deal it is hard to do better than the VA or HUD foreclosures market. The simple truth is that there are just more VA and HUD homes on the market, as they represent such a large number of mortgages that are generated each year. This translates into more foreclosures just by the magnitude of difference between all others comparing to the two largest.

The two largest also being government owned and operated means that they have less time to wait to make money back on the home. The FHA is especially known for selling HUD homes for less than the average sales price in a given area. FHA foreclosures represent a fraction of HUD but they are still a significant number of homes and both should be considered.

VA (Veterans Administration) and HUD (Housing and Urban Development) have different and unique opportunities for the buyer. Both are often forgiven for the local taxes normally associated with the purchase of a home (this is on a county by county basis). Be sure to ask the local title company or escrow company to look into it for you before closing as this is often missed due to their are not used to dealing with the 2 to 3 percent of the market that VA and HUD foreclosures represent.

Foreclosure Listings Increasing

As the market settled after the mortgage meltdown foreclosure listings also settled and fewer homes were on the market with a placard reading “Bank Foreclosure” in big red lettering. This was a good thing for the entire real estate market. Having an abundance of foreclosures brings the entire market down and it makes it harder for home owners, who would like to move, to get the appropriate price for their home as a similar home down the same street was sold for substantially less and the appraiser is using the foreclosure as a comparable sale.

This is just one of the problems when there are too many foreclosure listings in any area. Another issue is the television set that sits in everyone’s living room harping about the price of homes based on the number of foreclosures and this constant barrage of negative information makes most people sit on the sidelines waiting for the market to either implode completely or to correct itself. Meanwhile while they wait, others are buying foreclosure listings and making great investments.

Whatever the reason, a market can only handle so many foreclosure listings at any given time. The more foreclosures, the lower the market gets and this is a lesson the banks that were foreclosing and selling off realized too late. The market and their investments would have been better off if there had not been a rush to divest themselves of the toxic assets made more toxic by their own actions.

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